PhosAgro to reacquire Eurobonds

PhosAgro has summed up the results of the early stage of the tender to reacquire a part of Eurobonds issued in 2017. This issue in the amount of $ 500 million and with a coupon rate of 3.95% per annum suggests paying back in 2021.

PhosAgro has resolved to reacquire Eurobonds with a total notional value of $ 150 million at $ 1,031 for every $ 1 thousands of nominal values of Eurobonds. Transaction settlements were scheduled for January 28 this year.

The deal will help PhosAgro to optimize its loan portfolio by replacing short debt positions with longer ones, improving the borrowing rate.